Everything You Need to Know About Bitcoin in 2 Minutes

What's This?

By Armand Valdes2014-02-11 14:09:49 UTC

In April 2011, the value of Bitcoin held steady at $0.75. By January 2014, that value had skyrocketed to more than $1,000. It's hard to deny that the digital currency is changing the way we use money and our concept of how money should work. But let's back up a step — what exactly are bitcoins?

See also: A Complete, Interactive History of Bitcoin

The newest video in our Mashable Explains series covers everything from Bitcoin mining to the advantages of a decentralized currency — all in under two minutes. After you watch the video above, subscribe to Mashable on YouTube for more.

Previously on Mashable Explains: What is 4K Video?

Topics: Bitcoin, Bitcoins, Business, Mashable Explains, U.S., Videos, World